Martha Geoffrey 4

What Happened
Martha Geoffrey, Medtronic's Chairman and CEO, had performance-vesting share units (PSUs) converted into 94,963 shares of Medtronic common stock on May 26, 2026 (reported on Form 4 filed May 28, 2026). On the same date 85,461 of those shares were reported as disposed (both transactions reported as exercise/conversion of a derivative at $0.00 per share). Net of the conversion and the reported disposition, the transaction increased her holding by 9,502 shares.

Key Details

• Transaction date: May 26, 2026; Form 4 filed May 28, 2026 (appears timely within the 2-business-day window).
• Acquired: 94,963 shares @ $0.00 (conversion/settlement of PSUs).
• Disposed: 85,461 shares @ $0.00 (reported as derivative disposition).
• Net change from these entries: +9,502 shares.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes from the filing:
  • F1: Shares issued upon settlement of performance-vesting PSUs granted July 31, 2023, based on performance certified May 26, 2026.
  • F3: Each PSU represents a contingent right to one share of common stock.
  • F4: PSUs vested on April 24, 2026.
  • F2: Includes 1,743 shares acquired through dividend reinvestment since the last report.

Context
These were conversions/settlements of performance-based awards (PSUs), not open-market purchases or discretionary sales. The filing reports the issuance and a simultaneous disposition of a portion of the shares as part of the settlement process (both reported at $0.00 per share). PSUs are common executive compensation — the conversion reflects performance certification and vesting; the disposition often reflects settlement mechanics (e.g., withholding or transfer), but the filing itself does not state the specific reason for the disposal.